Life insurance is the oldest insurance product in world. This type of insurance will provide some sums of money to the heirs left behind if the customer or the insured mennggal the world either because of illness or accident. This insurance must be owned by a person in his productive period and have a family. So that when something happens that is not desirable, the deceased will leave and left also a sufficient amount of money to meet the needs of the house or run the run running plans of family members who are left, especially their children. Life insurance consists of a variety of products and additions (riders). Generally life insurance is divided into 2 kinds, namely term life insurance and life insurance whole life.
Term life insurance ensures that the policyholder is protected for a certain period of time, for example 10 to 30 years. Example: Mr. A bought term life insurance with a term of 20 years at the age of 29 years. The concerned will be covered by insurance until he is 49 years old. If Mr. A has died within the 20 years since he took out the insurance policy, then the compensation will be given to his heirs. Conversely, if Mr. A died at the time he was past 49 years (beyond the 20 years since the insurance policy was taken), then the concerned will not get any soul compensation. Whole life insurance protects the policyholder until he / she dies, is not tied to what age he / she died.
As long as the insurance premium remains paid, the insurance policy will always provide protection. This causes insurance of the type of whole life is more desirable by the community, especially in insuring their children because of the premium value at a young age is quite cheap and this value remains the same during the life of the child until the age of adulthood. Term life insurance that has a certain period of time, offering a cheaper premium several times more than the whole life insurance. Health insurance is directed to the transfer of risk of hospital expenses, examination fees, and medication if an insured has a particular disease. This insurance is felt necessary if one expects a certain standard of health care facilities that may be required in the future. Currently there are many companies that provide health insurance facilities for its employees.